Deal Corner- Episode 03
AI has captured the imaginations of leading technology companies, given its immense potential and widening use cases …. No wonder, AI generative technology providers have been on venture capitalist radar…Let’s begin with the top deal this week…the Databricks acquiring a stake in AI generative platform MosaicML…. That’s the first billion dollar deal
Databricks acquires generative AI platform MosaicML for about $1.3 bn
Making the biggest deal announcement in Artificial Intelligence (AI) space this week, was Databricks. This U.S. based company which is leading the data and AI revolution has agreed to acquire a generative AI tool developer MosaicML at an eye-popping valuation of $1.3 billion.
Candy Digital, Palm NFT Studio Announce Merger
After a seemingly long hiatus, there’s an alliance happening in the Web3 space. The digital collectibles company Candy Digital and Web3 production firm Palm NFT Studio announced a merger on Thursday.
The two firms will work together under the Candy Digital name to create digital experiences for sports franchises like Major League Baseball (MLB), NASCAR and World Wrestling Entertainment (WWE), as well as entertainment giants such as Netflix and Warner Bros Discovery.
Dropbox launches $50 mn AI-focused venture fund
In an effort to maximize gains from the ongoing investor frenzy in generative AI space, Dropbox has launched a new $50 million venture fund focused on startups in the AI space.
The company’s first venture arm, Dropbox Ventures will provide mentorship in addition to financial support to build AI-powered products that “shape the future of work”.
Mythical Games raises $37 mn for in-Game Marketplace in Series C Round
Let us analyze this week’s newest, deal in the web3 gaming space.
GameFi, the intersection of gaming and finance on Web3, has been expanding rapidly over the past few years. Mythical Games, a publisher of video games, has raised $37 million in Series C1 fundraising with the intention of establishing a new marketplace and pursuing additional income-generating projects.
Metaverse Gaming Platform AvatarLife Raises $1.5 mn From Info Edge Ventures, Others
Info Edge Ventures, a venture capital firm backed by Naukri.com parent Info Edge India Ltd and Temasek, has led a $1.5 million seed funding round in metaverse gaming platform AvatarLife.
Sushant Chandrasekar and Gaurav Gupta founded AvatarLife in 2022, which provides skill-based single-player, multiplayer, and play-to-earn games in its virtual environment. It also permits game development and operation on its platform by other authors.
Conclusion: The merger and acquisition activity this week, month have slowed down given the fact we are at end of the second quarter for 2023. There may be pick-up in activity as we enter the busy season and with lot of focus on AI, the prospects remain bright….
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